FRA nods to subscription to Industrial and Engineering Enterprises’ uncovered shares of rights issue

Updated 1/30/2024 2:18:00 AM
FRA nods to subscription to Industrial and Engineering Enterprises’ uncovered shares of rights issue

Arab Finance: The Financial Regulatory Authority (FRA) has approved in principle for the Industrial and Engineering Enterprises Company to invite senior shareholders to subscribe to the uncovered shares of the rights issue, as per a filing.

The remaining shares amount to 26.145 million shares that will be offered at a nominal value of 0.20 per share.

Industrial and Engineering Enterprises undertakes public contracting activities and specifically civil constructions as well as supplying and assembling mechanical and electrical equipment for water draining, drinking water stations, irrigation and subterranean drainage.

 

 

 

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